9: THE SINGAPORE EXCHANGE

The Singapore Exchange (SGX) is an interesting example of a city state starting its stock exchange from the scratch and transforming it into a leading regional player by developing its product and service capabilities and offering an efficient and transparent operating environment. But the SGX is currently at a crossroads. In the absence of a large domestic economy providing it with trading volumes, other regional exchanges like the Hong Kong Exchange, the Shanghai and Shenzhen Exchanges in China and the Bombay and National Stock Exchanges in India have grown into much larger entities than the SGX in terms of market capitalisation.